Section Objectives - ASA 250 - Consideration of Laws and Regulations in an Audit of a Financial Report - October 2009 - Objectives

The objectives of the auditor are:
1. To obtain sufficient appropriate audit evidence regarding compliance with the provisions of those laws and regulations generally recognised to have a direct effect on the determination of material amounts and disclosures in the financial report;
2. To perform specified audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial report; and
3. To respond appropriately to non-compliance or suspected non-compliance with laws and regulations identified during the audit.

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